EU Referendum

The UK has voted to leave the European Union in an historic referendum. Now the aftermath of that vote is reflected in the global financial reaction, statements from world leaders and analysis of what should happen next.

Britain needs to hand in its formal notice to leave the European Union immediately and cannot wait until the British Conservative Party has established its next leader, European Parliament leaders said on Friday.

British Prime Minister David Cameron, who announced his resignation, said Britain would probably make such a notification only in October, once a new leader of the Tory party is chosen to succeed him.

Reuters UKThe Bank of England pledged a huge financial backstop to calm plunging markets after Britain voted to leave the EU and central banks around the globe intervened in markets, highlighting worries that volatility could quickly hit the world economy.

ReutersSwitzerland's central bank on Friday gave rare confirmation that it had intervened in the currency market to weaken the Swiss franc in the wake of Britain's vote to leave the European Union.

by Leela de Kretser6/24/2016 8:01:17 AM

Boris Johnson favorite with bookmakers to succeed Cameron - Ladbrokes

by Leela de Kretser6/24/2016 7:52:08 AM

David Cameron says he will step down as prime minister before October after Britain voted to leave the European Union.

by natalie.armstrong6/24/2016 7:46:00 AM

Britain's Prime Minister David Cameron speaks after Britain voted to leave the European Union, outside Number 10 Downing Street in London. REUTERS/Stefan Wermuth

by Corinne Perkins6/24/2016 7:32:56 AM

Northern Irish deputy leader calls for vote on united Ireland

The British government has a "democratic imperative" to call a referendum on whether Northern Ireland should leave the United Kingdom and unite with the Irish Republic, the province's Irish nationalist Deputy First Minister said on Friday. - DUBLIN, June 24 (Reuters)

"The British government now has no democratic mandate to represent the views of the North in any future negotiations with the European Union and I do believe that there is a democratic imperative for a 'border poll' to be held," Sinn Fein's Martin McGuinness told national Irish broadcaster RTE.

"We are now in unchartered waters, nobody really knows what is going to happen. The implications for all of us on the island of Ireland are absolutely massive. This could have very profound implications for our economy (in Northern Ireland)."

(Reporting by Padraic Halpin; Editing by Gareth Jones)

by Leela de Kretser6/24/2016 7:32:21 AM

Britain's Prime Minister David Cameron speaks after Britain voted to leave the European Union, as his wife Samantha watches outside Number 10 Downing Street in London. REUTERS/Stefan Wermuth

by Corinne Perkins6/24/2016 7:29:23 AM

David Cameron says he will aim to have a new prime minister in place by October

by Leela de Kretser6/24/2016 7:24:38 AM

BBA chief says people will be able to take money out of cash machines, exchange currency and have full access to their banking services

by Leela de Kretser6/24/2016 7:22:18 AM

The will of the British people is an instruction that must be delivered, says PM David Cameron

by Leela de Kretser6/24/2016 7:20:23 AM

Most stocks in Italy's blue chip index FTSE MIB fail to open

Of the stocks that managed to open, Enel is down 9.7 percent, Luxottica is down 5.9 percent, Snam down 6 percent, Atlantia down 8.5 percent

Uncertainty following British vote to leave EU hammers pound sterling.

by jamillah.knowles6/24/2016 7:04:05 AM

A taxi driver holds a Union flag, as he celebrates following the result of the EU referendum, in central London. REUTERS/Toby Melville

by Corinne Perkins6/24/2016 6:52:57 AM

Traders stand near screens, one which displays the rate of the British pound which drops against the US dollar (R) after the British referendum, in a trading room in Paris, France. REUTERS/Jacky Naegelen

by Corinne Perkins6/24/2016 6:49:17 AM

European banking sector futures point to worst-ever drop

LONDON, June 24 (Reuters) - Euro STOXX bank futures slumped more than 17 percent, putting them on track for their biggest ever one-day percentage drop, after Britain voted to leave the European Union following a landmark referendum.

The Euro STOXX auto futures also fell about 13 percent on concerns that the sector would be hit hard on growth concerns following the outcome of the referendum.

European banks were set to open sharply lower, with Deutsche Bank seen opening 18 percent lower. Shares in Standard Chartered and HSBC listed in Hong Kong are down around 9 percent.

(Reporting by Atul Prakash; Editing by Vikram Subhedar)

by Leela de Kretser6/24/2016 6:48:39 AM

Nigel Farage (front), the leader of the United Kingdom Independence Party (UKIP) reacts with supporters, following the result of the EU referendum, outside the Houses of Parliament in London. REUTERS/Toby Melville

Goldman Sachs CEO Lloyd Blankfein says, "We will work with relevant authorities as the terms of the exit become clear." He says, "We respect the decision of the British electorate and have been focused on planning for either referendum outcome for many months."

by Leela de Kretser6/24/2016 6:36:44 AM

A television camera focuses on 10 Downing Street in Westminster, London. REUTERS/Phil Noble

by Corinne Perkins6/24/2016 6:30:09 AM

A trader from BGC Partners, a global brokerage company in London's Canary Wharf financial centre waits for European stock markets to open early June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum. REUTERS/Russell Boyce

by Corinne Perkins6/24/2016 6:29:17 AM

A Union flag flies in front of the moon in central London. REUTERS/Toby Melville

UK's central bank says it has undertaken extensive contingency planning and is working closely with Treasury after Brexit vote. Bank of England says it will take all necessary steps to meet its responsibilities for monetary and financial stability.

by Leela de Kretser6/24/2016 6:01:43 AM

Traders from BGC Partners, a global brokerage company in London's Canary Wharf financial centre wait for European stock markets to open early June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum. REUTERS/Russell Boyce

by Corinne Perkins6/24/2016 6:00:18 AM

A man lies on the ground in Parliament Square in London. REUTERS/Toby Melville

ReutersThere is little appetite among the majority of Conservative lawmakers to depose Prime Minister David Cameron who should now prepare to negotiate Britain's exit from the European Union, Vote Leave chief Matthew Elliott told Reuters.

WASHINGTON No negotiations can be held with North Korea until it improves its behavior, a White House official said on Wednesday, raising questions about U.S. Secretary of State Rex Tillerson's offer to begin talks with Pyongyang any time and without pre-conditions. | Video

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